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US Markets closed down, near the unchanged line, as investors leave for the burbs for the weekend wondering if Ms Yellen will shock Wall Street Monday. The general consensus among analysis is that the Fed will not raise rates in light of the latest negative financial reports, namely the employment report. J.P. Morgan says, 'One in three chance of recession in 2016'.

Todays S&P 500 Chart

The Market in Perspective

WASHINGTON (Reuters) - A U.S. congressional committee has launched an investigation into the Federal Reserve's cyber security practices after a Reuters report revealed more than 50 cyber breaches at the U.S. central bank between 2011 and 2015.

WASHINGTON (Reuters) - The U.S. economy created the fewest number of jobs in more than 5-1/2-years in May as manufacturing and construction employment fell sharply, which could make it harder for the Federal Reserve to raise interest rates.

NEW YORK (Reuters) - Financial stocks led Wall Street lower on Friday after a surprisingly weak jobs report for May prompted concerns about the U.S. economy and whether it can sustain a near-term interest rate hike.

NEW YORK (Reuters) - One year after the U.S. stock market topped out, indexes are again near their highs and that makes options traders nervous, so much so that bullish bets on U.S. equities now are bargain priced, even though the underlying stocks are not.

NEW YORK (Reuters) - A former Oppenheimer & Co Inc investment adviser was arrested on Friday on charges he traded on inside information supplied by a childhood friend about deals that drugmaker Pfizer Inc was considering.

MUNICH (Reuters) - BMW is overhauling its research and development activities to focus on self-driving cars, board member Klaus Froehlich told Reuters, a move which includes a revamp of its "i" sub-brand of carbon-fibre based electric vehicles.

NEW YORK (Reuters) - Oil prices dipped on Friday on concerns about the U.S. economy, but Brent crude held close to $50 a barrel in choppy trading with support from a weaker dollar and relief that most OPEC members do not plan to flood the market with excess crude.

(Reuters) - A psychiatrist who examined Sumner Redstone twice last month found the 93-year-old retained the mental capacity needed to remove Viacom Inc Chief Executive Philippe Dauman from the trust that will eventually control the company, according to a spokesman for the media mogul.

(Reuters) - Facebook Inc's board has proposed removing Mark Zuckerberg's majority voting control in the event of the social media giant's chief executive and founder deciding to exit management at some point in future.

As regular readers know, one of our favorite chartpacks to show "Obama's recovery" is the one below, presented most recently just two days ago during Obama's now almost weekly televised sermon of how the economy is great and anyone who disagrees is "peddling fiction", which using simple Bloomerg data, summarize recent changes in key economic indicators including soaring federal debt and government dependency via food stamp use, surging healthcare costs and social inequality, plunging homeownership, income, and labor force participation, and - of course - driving it all, none of the president's or Congress' actions, but the Fed's balance sheet, something even major banks admit is better known as "printing money" - money that ends up blowing one after another asset bubble unable to finds its way into the broader economy - a stigma that is now gone in a world in which helicopter money is seriously considered by lunatics in power.

To be sure, the charts do not in any way imply that Obama started any of these disastrous trends (with a few exceptions); they do however make it very clear that more than 7 years under president Obama, these same trends have not changed.

This means that while Obama may have inherited a bad economy, contrary to the endless propaganda, the economy has only gotten worse. One needs only to go on a very short drive through any of the neighborhoods of Obama's native Chicago to get a clear realization of this sad fact (while wearing a bulletproof ...

A quick recap to the trade data released today continues to paint a relatively dismal view of global trade. The unadjusted three month rolling average value of exports accelerated and imports decelerated (but all rolling averages are in contraction). Many care about the trade balance which improved because exports improved more than imports.

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